Finally, I have a good fundamental and technical trade that seems to match. UK's GBP idustrial production y/y and manufacturing production m/m and y/y should drop. I think the manufacturing PMI will push this in the short direction: www.tradingeconomics.com It will probably good to take a look at GBPUSD. Gotto go. Will update later.
Watching EUR's economic data coming out this week. So far, it doesn't look good. Here is a chart of their German manufacturing PMI, which looks terrible: www.tradingeconomics.com This could effect the German industrial production data coming up this week. The consensus is that it will do better. 0.4% is expected versus -1.2% previously; but I beg to differ. I...
For me, this is a technical trade. I think both EUR and CAD will fall this week, but I like this set up and the risk/reward. I don't put all my eggs in one basket. This is one out of many trades. Due to computer challenges, I cannot manage this actively. So, I'll just put in limit orders.
With EURUSD I am wauting for a break in either direction. I have a long bias, since it has bounced off of strong support and now forming a continuation triangle.
I bought AUDUSD earlier... and gold broke out with it. Now, the FED NFP is coming up. We have an even BIGGER triangle. I kept some orders in for a potential bigger flock to safety in gold and AUDUSD. Aussie pays a nice interest to boot! Unless this trend breaks.. I am staying in!!
Looking at the terrible outlook for the dollar, the chart also doesn't look good. Any pullback for now is a sell. Of course, waiting for any signs of a pullback and sell signal. Flows leaving the USDollar back into Euro and/or gold!! People trying to decide where to put there money next! Non-Farm Payrolls may help them decide. Where to put your money next? In...
I think retail sales will be strong enough to push AUDUSD farther up!
.....Time to re-short this crap. Riisk reward is great!
In addition to this H&S reversal pattern, I think there are some bearish catalysts coming out tonight in 2 hours! So, here we go!
It looking like EURNZD is blasting off although EURUSD is falling. That's ok. Good for 100 to 250 pips. Small risk.
Hey, the BIG SHORT is on with the GBPUSD brewing for a Goliath fall. It is a reversal pattern of sorts in the making. Good for 150 to 300 pips.
Here we are at a moment where Yellen deciides the fate of the US economy, well, investor reaction to her decision. Her decisions are evidenced based. So far, ISM Manufacturing PMI came out better than expected. Now, we await the ADP Emplyment Report in 7 hours and the Non-Farm payrolls. If one goes long now, then it would be right near into a cluster of...
Past support becomes future Resistance. Also, the pair duplicated already. Daily and weekly pivot resistance. Trendline resistance. Good for a 200 pip to 300 pip fall.
Entering long USDJPY. I like the consolidation at this level. What's more, I think around 10am there will be good news coming out for the USD in its Pending Home Sales m/m. So, it could be a good trade.
This is not a pair to day trade. I am long based on monthly and weekly charts. I enter at key levels. It is clearly still in an uptrend, and we are at levels to start buying. Stops re very large, so this is not an average trade with just 50 pips. I like the 61.8% level here at 2.0602 and all the visible confluence that goes along with it.
It is expected that the EUR data coming out for the CPI to be good, but I believe something else based on my understanding. I think the CPI for Germany will be down and not meet expectations or estimates. So, I will be looking for a small shorting opportunity to the downside if one arises. 4 hour chart ZOOMED in: gyazo.com It looks like most things on...